WISE iTech Co., Ltd. (KOSDAQ:A065370) agreed to acquire ArchiveTechnology Co., Ltd. for KRW 4.7 billion on February 21, 2023. Initial payment of KRW 470 million will be paid on February 21, 2023. Remaining payment of KRW 4.23 billion will be paid on March 10, 2023.

For the period ended December 31, 2022, ArchiveTechnology reported total assets of KRW 2.1 billion, total stockholders equity of KRW 2 billion, sales revenue of KRW 1.8 billion and Net profit of KRW 975 million. The transaction is expected to complete on March 10, 2023.